Now vehicle information will have to be linked to KYC, order issued

New FASTag Rules: New KYC (Know Your Customer) rules will be applicable for FASTag users from August 1, 2024, which have been issued by NPCI. All FASTag service providers will have to complete the KYC process for tags issued 3-5 years ago by October 31, 2024. This makes it important to ensure that your KYC information is updated so that there is no problem in service. It will also be mandatory to replace FASTags older than 5 years. All FASTags will have to be linked to the vehicle registration number and chassis number. All necessary KYC processes have to be completed by October 31, 2024.

The new rules are coming into effect from August 1

The National Payments Corporation of India (NPCI) has issued new guidelines emphasizing on FASTag KYC (Know Your Customer) standards which will come into effect from August 1, 2024. NPCI said in a notification that the last date for completing KYC under the new FASTag rules has been fixed as October 31, 2024. Customers taking FASTag for three to five years will have to complete KYC by this date.

Fastag KYC has to be completed by 31 October

According to the notification issued by NPCI, it will be mandatory to follow these rules for all tags issued from August 1, 2024. Each tag will be linked to a mobile number. The issuer will have to ensure that proper KYC linked to the mobile number is completed. Each tag issued will have a unique VRN i.e. Vehicle Registration Number, which will be linked to the chassis number. In new vehicles where VRN is not available, the chassis number will be mandatory.

Complete this work on time- otherwise FASTag will be stopped

Fastag users must complete the KYC process before the deadline, else their tag may be deactivated. This move by NPCI will make the use of Fastag more secure across the country. Fastag borrowers will also have to ensure that the VRN is updated within 90 days and if they fail to get the VRN updated, the issuer will have to hotlist such tags. If the VRN is not updated even within 30 days of hotlisting, the issuer can deactivate these tags. The tag information will be verified with the VAHAN database or the issuer will have verified the data.